Facebook Trading Idea – Continuation of uptrend

After having a downtrend for the 2nd half of 2018, Facebook has been in an uptrend since January 2019. What we are currently looking at on the daily chart is an inverted Head & Shoulders pattern. This together with the overall uptrend is an opportunity to buy this stock.

Trading Preference

Break above 200 or any pull back towards the trendline as drawn on the chart will be an opportunity to go long.

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Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice. 

Amir is a graduate in International Economics. He has been active in the financial markets since 2014.

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